As of 17th July 2015, the London Borough of Islington has introduced an innovative new planning policy aimed at tackling the so-called "buy-to-leave" phenomenon. Islington's approach relies on a Supplementary Planning Document entitled "Preventing Wasted Housing Supply". This will require developers to sign a "Section 106" agreement [S106] aimed at ensuring that homes are occupied after they are completed: effectively the agreement cascades down to individual owners as the S106 obligations run with the land as a land charge.
This is the landing page for the SPD that attempts to deal with buy-to-leave properties through planning policy, requiring a level of occupation to be achieved via Section 106 agreements on new developments of 20+ units.
The discussion paper includes the proposals behind the recent headlines about Islington's plans to "fine" empty homes owners £60,000.
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